Don’t Fall Into The Year End Trap
By JD Esajian on November 13, 2013
With Thanksgiving only a few weeks away, we are quickly approaching the end of the year. The holiday seasons typically witness a lull in the real estate market, as most buyers would rather wait for the New Year than start the process during this time. This impacts local real estate agents and investors. They will certainly push to finish deals they have already started, but the hunger for new ones is not as great as it will be at the start of the New Year. This time of year creates an opportunity to get deals that others don’t wont or aren’t willing to work for.
The first thing you should be doing at this time is working towards attracting new realtors. 80% of realtors will go into hibernation mode and shut their businesses down after Halloween. They are still trying to close deals, but prospecting for new listings or buyers is not as aggressive as it was in the beginning of the year. Take this opportunity to reach out to as many local realtors as possible. Whatever your strategy is for networking, you should put it in a high gear from Thanksgiving to Christmas. Realtors will be more inclined to sit and talk with you when they have less going on.
Similarly, most investors will slow down on their marketing towards the end of November. There is no reason why you shouldn’t ramp up yours to take some of this lost market share. Think about how well you would be set up if you could have a few deals in the works when 2014 starts. Pick out a marketing niche you enjoy and go for it. You may even be able to work out a year-end letter or postcard discount if you ask.
This does not mean that you can’t enjoy your holiday season as well. You don’t need to work overly hard when you can work smart. Commit yourself to a few hours a day to network and market after Thanksgiving and you will be pleasantly surprised by the results. In addition to your contacts having more free, time you will also find that they will be more receptive to talk to you. If you have been trying to get a meeting with a local attorney, realtor or fellow investor, take advantage of any opportunity that comes your way. Just because everyone else is feeling a little lazy and content at the end of the year doesn’t mean you have to be.
Don’t wait for the New Year to start to change your marketing plans or your investing strategy. Get a jump on your competitors by putting your plan in motion as soon as possible. There is no advantage in waiting. All you are doing is procrastinating and putting work off for another few weeks. The last five weeks of the year will oftentimes tell the tale of how your business will go in the next year. Put down the hot chocolate or flavored latte and dig in.